By Beinomugisha Godfrey Kampala: Reflecting on the current Business Financing in Uganda, its very difficult to get An investment long term loan in our local commercial Banks. Bank of Uganda needs to loosen up on “the intricacies of economic policy-making on banks lending out money to individual investors, who find it hard to get cheap…
The Minister of State for Finance in charge of General Duties, Hon Henry Musasizi, has tabled the Supplementary Appropriation (No. 4) Bill, 2021 for first reading amidst concerns from the Opposition about the utilisation of the previous requests. The bill seeks to provide for supplementary appropriation amounting to Shs4.7 trillion from the Consolidated Fund as…
Members of Parliament on the Natural Resources Committee have criticised the Minister of Finance, Planning and Economic Development, Hon Matia Kasaija, for diverting the Environmental Fund from National Environmental Management Authority (NEMA) to the Consolidated Fund, saying this has crippled NEMA’s operations. MPs said the fund was lawfully established to assist NEMA restore the environment…
There is a general presumption and saying that capital has no home but within realistic parameters the home of capital is its place of origin because it always goes back with its profits or returns on investments. Capital holds much more value in countries like Uganda where fixed deposits have monthly interest returns of up…
Ministry of Finance, Planning and Economic Development has on behalf of Government signed an agreement with an American Company RIPPLENAMI INC to provide a solution to improve rental income tax compliance for Uganda. The contract was signed by Betty Kasimbazi the Under-Secretary/Accounting Officer at the Ministry of Finance on behalf of Government while Faruk Awadh,…
Former employees of Kampala City Council (KCC), which was transformed into Kampala Capital City Authority (KCCA), who were retrenched almost 10 years ago, will receive their terminal benefits in July this year. The State Minister for Finance (Planning), Hon. David Bahati, told Parliament that Shs4.08 billion was provided in the budget for the 2020/2021 financial…
Workers have announced a nationwide strike against what they called unfairness by the Finance Ministry to take over sole control over the National Social Security Fund (NSSF). Trade Union leaders under the National Organisation of Free Trade Union (Notu) during a General Council meeting unanimously resolved to mobilize the workers across the country to lay…
President Yoweri Museveni has ordered Twebaze Bemanya to leave the office of Administrator of Uganda Telecom (UTL). The chief Executive officer of Ugandan government Gen.Museveni directed Minister Kahinda Otafiire to find a replacement for Bemanya immediately after the expiry of Bemanya’s tenure on November 20th, 2019. President Museveni issued the directive in a letter dated_November…
President Yoweri Museveni has asked tax authorities in Uganda to stop levying tax on subsistence economies as the people doing petty businesses merely eke for a living. “Someone is selling mangoes, roasting meat or gonja and the authorities want to tax them! Let these people earn some money and put it in their pockets. I…
